Dunzo Layoffs: Reliance-backed Dunzo to cut more jobs, may layoff 30% of its workforce – Times of India
Reliance Retail-backed Dunzo is the latest startup to cut jobs. The company is reportedly laying off about 30% of its workforce. According to an exclusive report in Economic Times, the homegrown quick-grocery delivery provider Dunzo has laid off nearly 300 employees. The layoffs come soon after it secured funding of $75 million through convertible notes in a fresh funding round.
According to sources, Kabeer Biswas, Dunzo founder and CEO, informed employees about the latest round of job cuts in a town-hall meeting. So far, Dunzo has not officially confirmed the job cuts.
In November 2022, the company had shut down a few dark stores in Delhi-NCR and other regions. The company had laid off 25% to 35% of its staff from dark store teams. The affected employees are said to include those on payroll as well as contractual.
In January this year, Dunzo had laid off 3 per cent of its workforce amid cost-cutting measures, as the company looked at team structures and network design to build efficiency into its teams. E-commerce player Dunzo in January 2022 raised $240 million to expand its footprint in India. The freshly-raised funds were to be used in enabling instant delivery of essentials from a network of micro warehouses while also expanding its ‘B2B’ business vertical to enable logistics for the local merchants. This investment was led by Reliance Retail Ventures, with participation from existing investors including Lightbox, Lightrock, 3L Capital and Alteria Capital.
According to sources, Kabeer Biswas, Dunzo founder and CEO, informed employees about the latest round of job cuts in a town-hall meeting. So far, Dunzo has not officially confirmed the job cuts.
In November 2022, the company had shut down a few dark stores in Delhi-NCR and other regions. The company had laid off 25% to 35% of its staff from dark store teams. The affected employees are said to include those on payroll as well as contractual.
In January this year, Dunzo had laid off 3 per cent of its workforce amid cost-cutting measures, as the company looked at team structures and network design to build efficiency into its teams. E-commerce player Dunzo in January 2022 raised $240 million to expand its footprint in India. The freshly-raised funds were to be used in enabling instant delivery of essentials from a network of micro warehouses while also expanding its ‘B2B’ business vertical to enable logistics for the local merchants. This investment was led by Reliance Retail Ventures, with participation from existing investors including Lightbox, Lightrock, 3L Capital and Alteria Capital.
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